Hunt Mining Reports Second Quarter 2017 Earnings of US $1,276,887
August 15 2017 - 6:01AM
LIBERTY LAKE, Wash., Aug. 15, 2017
(GLOBE NEWSWIRE) -- Hunt Mining Corp. (the "Corporation" or "Hunt") (TSX VENTURE:HMX) is pleased to announce
interim financial statements and management discussion and analysis
for the three-month period ending June 30, 2017. Second quarter
financial information is available on the Corporation's website
at www.huntmining.com and on SEDAR.
Highlights
- Net Income of US $1,276,887 for the
three-month period ending June 30, 2017;
- Basic earnings per share of US $0.02
in the second quarter of 2017;
- Revenue of US $3,756,700 for the
period ending June 30, 2017, and Year to Date US $4,445,499;
- Production of 245,060 silver
equivalent troy ounces from the Martha Project using a 72 to 1
silver to gold ratio;
- Continued exploration of seven (7)
mining concessions acquired with the purchase of the Martha
Project.
Financial Highlights (all reported
in US $)
|
|
Q2
2017 |
Revenue |
|
$3,756,700 |
Expenses |
|
$2,479,813 |
Basic Earnings per Share |
|
$0.02 |
Silver Eq. Production |
|
245,060 ounces |
Ounces are Troy
Ounces consisting of 31.1035 grams
President and CEO Tim Hunt states,
"We are extremely pleased to report our first revenues and positive
cash flow and net income through our production activities at the
Martha Project. When we purchased the Martha Project we developed a
strong business plan that utilized our team of personnel and their
expertise in the Santa Cruz Province of Argentina and in precious
metals production. We intend to increase production at the Martha
Project as the winter season ends in Argentina, and are evaluating
an increase in daily capacity from the current 240 tonne per day.
We intend to finance ongoing exploration and increased production
through cash flow generated from operations."
Additional information on the
Martha Project and other Santa Cruz, Argentina projects can be
viewed on the Company website at: www.huntmining.com.
About Hunt
Mining
Hunt Mining Corp. has continued to
develop its properties as an active and aggressive explorer in
Santa Cruz since 2006, entering into production of silver and gold
at the Mina Martha property in January 2017. Since 2006, Hunt's
wholly owned subsidiary, Cerro Cazador S.A., has completed
exploration activity including 62,000 meters of HQ core drilling,
416 line kilometers of Induced Polarization geophysical surveys and
more than 20,000 surface soil, sediment, channel, chip, and trench
samples, beyond the historical work previous to the same
properties. Hunt also owns a 100% interest in the Martha property,
which includes the Martha Project, also located in the Santa Cruz
Province of Argentina.
Neither the TSX
Venture nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture) accepts responsibility
for the adequacy or accuracy of this release.
For more information contact:
Dean Stuart
Investor Relations
T: (403) 617-7609
E: dean@boardmarker.net
Bob Little
Chief Administration Officer
T: (509) 290-5659
E: blittle@huntmining.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Hunt Mining Corp. via Globenewswire
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